Indian Texpreneurs Federation hails commerce ministry's MEIS announcement

COIMBATORE: The Indian Texpreneurs Federation, a body of spinners in the region, today welcomed the commerce ministry's announcement amending the Merchandise Exports from India Scheme ( MEIS), saying the move would help ease some pressure and boost exports.

In a statement, ITF Secretary Prabhu Damodaran said now all kind of textile fabrics (cotton fabrics, blended fabrics and also Man made fibres based fabrics) will be eligible for two per cent MEIS benefit for all category of countries (A B and C).

Prabhu said for the past six months, industry and exports were under tremendous pressure and this move will help ease it.

By offering this benefit to all target markets, industry will get full benefit, he said and urged the spinning industry to gear up and move the value chain to make more fabrics and garments to capture big market share globally.